USDA Lifts Peanut Estimate
WASHINGTON Nov 10/14 - SNS -- U.S. peanut production is forecast at 5.04 billion pounds, up 1% from the October forecast and up 21% from last year, according to the latest USDA crop report.
Area for harvest is expected to total 1.31 million acres, unchanged from October but 25% higher than 2013. Based on conditions as of November 1, the average yield for the United States is forecast at 3,860 pounds per acre, up 48 pounds from the October forecast but 141 pounds below the 2013 average yield of 4,001 pounds per acre. Record high yields are expected in Florida, North Carolina, and Oklahoma.
As of November 2, 79% of the 2014 peanut crop had been harvested, 3 percentage points behind the same time last year but 3 percentage points ahead the five-year average.
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